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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q1 | May 5, 2025 | Protean Select | 2.1% | - | ACAST.ST, ASSA-B.ST, AXFO.ST, BIOT.ST, COOR.ST, DEVYSER.ST, ELUX-B.ST, EMBRAC-B.ST, EQT.ST, FNOX.ST, GETI-B.ST, HLDISP.ST, INTEA.ST, ITAB-B.ST, KOJAMO.HE, NDA-SEK.ST, RATOS-B.ST, RAYS-B.ST, RUSTA.ST, TRUE-B.ST | Hedge Fund, Long/Short, Nordics, risk management, small caps, value, volatility | April was described as an eventful and volatile month with the fund falling as much as 9% intra-month before recovering sharply. The manager used this volatility to add to stronger ideas and concentrated the portfolio more toward top ten positions. Markets experienced above-average volatility with breathless commentary from strategists about the biggest intra-month drawdown and recovery in history. | View | |
| 2025 Q1 | May 5, 2025 | Protean Small Cap | 2.5% | - | ACAST.ST, ASMDF, ASSA-B.ST, AXFO.ST, BIOT.ST, COOR.ST, DEVYSER.ST, ELUX-B.ST, EMBRAC-B.ST, EQT.ST, FNOX.ST, GETI-B.ST, INTEA.ST, ITAB-B.ST, KOJAMO.HE, NDA-SE.ST, RATO-B.ST, RAYS-B.ST, RUSTA.ST, TRUE-B.ST | Hedge Fund, Nordics, Performance, risk management, small caps, tariffs, volatility | April was characterized by extreme market volatility with the MSCI Nordic Index falling 13% intramonth before recovering to close only 2.3% down. The fund used this volatility to add to stronger ideas at attractive levels while maintaining defensive positioning. | GETI-B.ST ITAB.ST |
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| 2024 Q3 | Oct 1, 2024 | Protean Select | 0.0% | 10.6% | AZN, BOL.ST, BRAV.ST, DEVYSER.ST, EWORK.ST, FORTNOX.ST, GETIB.ST, HM-B.ST, ITAB-B.ST, LSG.OL, MOWI.OL, NESTE.HE, NVO, SSAB-A.ST, VALMT.HE, VITEC.ST | AI, Aquaculture, Esg, Medtech, Nordics, SaaS, small cap | AI poses a significant threat to the SaaS business model by automating manual tasks and providing customized solutions that could disrupt traditional one-size-fits-all enterprise software. The manager specifically highlights concerns about Swedish software company Vitec, which has never addressed AI challenges in 20 quarterly calls despite trading at 60x FCF. | GETI-B.ST AVGO|BYD|CRWD|MELI|MSFT|NFLX|NVDA|NVO|ORLY|SPOT ITAB.ST IBT.ST VITEC.ST |
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| 2024 Q3 | Oct 1, 2024 | Protean Small Cap | 0.0% | 24.3% | AZN, BOL.ST, BRAV.ST, CGCBV.HE, DEVYSER.ST, EMBEL.ST, EVO.ST, EWORK.ST, FASA.ST, FORTNOX.ST, GETI-B.ST, HM-B.ST, IBT.ST, INST.ST, ITAB-B.ST, LSG.OL, MOWI.OL, NESTE.HE, NETEL.ST, NOM.OL, NVO, REJL.ST, SSAB-A.ST, SWMA.ST, VALMT.HE, VIT.ST | AI, Esg, Medtech, Nordics, SaaS, Salmon, small cap, software | AI poses a potential threat to the SaaS business model by automating manual tasks and providing customized solutions that could disrupt traditional one-size-fits-all enterprise software. The manager questions whether Swedish software company Vitec has adequately addressed AI's impact on their vertical software roll-up strategy. | NOVO-B.CO IBT.ST ITAB.ST |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| No pitches found. | |||||||||
| Manager Name | Fund Name | Fund AUM | Invested Value | Portfolio Weight | Shares Owned | Shares Bought / Sold During Quarter | % Bought / Sold During Quarter | % of Shares Outstanding Owned |
|---|---|---|---|---|---|---|---|---|
| No investor data available. | ||||||||